Five law firms are vying to take control of litigation against Goldman Sachs Group Inc. over the 1MDB scandal, asking a judge to appoint their clients as lead plaintiff in a group lawsuit accusing the bank of misleading investors about its work with the Malaysian state fund.
The lawyers who are selected as main counsel in the class action will map strategy, file legal motions, manage settlement talks and divvy up the work among collaborating firms. They stand to collect the most in fees in the event of a settlement or favorable verdict.
The lawyers say their clients suffered large ...
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